Advertising Growth Affirm AppLovin Corporation (APP) as Top AI Stock to Buy According to Billionaire Philippe Laffont Applovin Corp (NASDAQ: APP) is one of the top AI stocks to buy according to billionaire Philippe Laffont.
On June 29, Raymond James initiated coverage of Applovin Corp (NASDAQ: APP) with a Strong Buy and a $640 price target
The price target represents significant upside as the stock is trading at about $515 a share. The research firm remains confident in the company’s long-term prospects, driven by its expansion into e-commerce advertising. It expects the company to deliver long-term growth that could lead to positive estimate revisions.
Similarly, Raymond James expects Applovin’s core advertising business to deliver 20% to 30% growth. The robust advertising growth would come as Applovin has emerged as a leading mobile in-app advertising platform. Reinforcement learning and periodic enhancements to the Axon model are also expected to drive growth in the advertising business.